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Cryptocurrency mining could make a good profit if you invest a considerable amount of money in a good mining rig. However, the mining profitability depends largely on several factors, such as hash rate, Bitcoins per block, Bitcoin difficulty, electricity rate, power consumption, and of course the conversion rate. For those who are new to the world of cryptocurrency mining and want to be part of the business, you could possibly look into Genesis Mining. What is Genesis Mining? Read this review to find out more before you invest.

What is Bitcoin Mining?

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the blockchain as it is a chain of blocks.

The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system. The members of the network provide their computational power for calculations of mathematical problems, and for this effort, they are rewarded with bitcoins.

Watch the following clip to learn more what is Bitcoin Mining.

What Is Genesis Mining?

Genesis Mining is a cloud mining company offering its services entirely online to users like you and me all over the world. Genesis Mining is by now the largest and most trusted cloud Bitcoin mining company that provide an easy and safe way to purchase” hash” power without having to deal with complex hardware and software setup.

Normally, cloud mining companies purchase hundreds to even thousands of mining rigs and other mining hardware that could possibly cost an enormous amount of start-up and operation costs.

Cloud mining companies like Genesis Mining enables users to purchase mining capacity that of hardware in data centers, one of them is in Iceland. That means the rigs you rent consume very cheap electricity and are cooled efficiently.

Genesis Mining is a well-established X11, Ethereum and Bitcoin cloud mining provider and they have been in the cryptocurrency mining industry since 2013. No matter which package you choose, you are renting the latest technology, which guarantees profitability for as long as possible.

To top this, there is no waiting for delivery and no downtime, which means you are not wasting even a second of mining. Furthermore, they promise 100% uptime, using 100% green energy, and no hidden fees.

Genesis Mining Investment Options

Genesis mining has the state-of-the-art mining hardware already up and running. All you need to do is to choose your favorite cryptocurrency or mining algorithm and start earning.

In other words all you need to do is “chip in” with Genesis Mining on their mining expenses and in return you will get a portion of the earnings.

When you deal with cloud mining you rent out GH/s or TH/s, which measure how much computing power you will be able to mine with.

What’s the Return of Investment (ROI) of Genesis Mining?

I am investing with Genesis Mining and it is a superb and reliable mining company. I invested in X11 and Ether with them and I found the ROI with X11 is better than Ether.

With 1Mh/s Ether and X11, I managed to make 0,02 Ether and 0,0004 BTC per day.

Taking the conversion into account, I could easily make 0,000013 BTC per day per USD invested, whilst I could only make 0,0000167 BTC per day per USD invested.

Taking the above contracts as examples, I can make $1,971 with $1,000 Ether contract, whilst $2,526 with $1,000 X11 contract.

Of course, I used a discount code sqvhtTto purchase the above-mentioned contracts and I managed to get myself a 3% off my investment.

Promotion Code (sqvhtT) to get 3%

I would like to highlight here that the ROI varies from time to time depending on the Bitcoin exchange rate as well as the mining difficulty. Genesis Mining is no doubt a great cloud mining company. However, these are two main factors that will impact your ROIs – mining difficulty and coin value.

First of all, Genesis Mining controls the hardware and the mining algorithm and the software they use to keep an eye on the performance of various mining pools.

With their level of knowledge and experience in these matters, I am sure Genesis Mining will take care of the mining to the best way possible. However, mining difficulty and coin values are beyond our and their control.

To get any insight in those, you can use external sites such as Coinwarz to keep track of mining difficulty, hashrate growth, block rewards and coin values and such. They should be used before making any purchase so you have an idea of what’s possible.

Coinwarz

Who Are Behind the Scene?

Genesis Mining was formed at the end of 2013 by Marco Streng, Marco Krohn and Jakov Dolic who got to know each other by using the same platform for buying and selling Bitcoins.

After being involved in Bitcoin for several years, they watched on the sideline as cloud mining companies came and went and realized that there was a huge opportunity in the market to offer a legitimate and trusted cloud mining service.

As Genesis Mining and its user base grew, new mining farms were built up and several additional people hired, specifically programmers and engineers.

We see many other companies, even very well known ones with excessive advertisements that don’t disclose any information about themselves or their founders. At least we know that Genesis Mining is operated by real people who are not hiding their identities like any other Ponzi scams in the market such as Coince.

Conclusion

If you are looking for an opportunity to go long with Bitcoin (long-term investment), I highly recommend Genesis Mining as these people are awesome and the company is serious about cloud mining business. Genesis Mining is traceable and transparent because they are running a legitimate cloud mining business and have nothing to hide!

Furthermore, you will easily spot them on different forums and conferences. For instance, Marco Streng gave a keynote speech at the recent Dubai’s first Blockchain Conference.

Being a customer-oriented cloud mining provider, they strive to ensure that you get a fulfilling service. I am so far very happy with Genesis Mining and I have strong confidence in them.

Check out their Bitcoin Mining Farm in Iceland in the short clip below.

Get 3.0 % Discount!

Enter this code: sqvhtTat your order and you’ll get 3.0% off !

Alex is the owner of Managing Your Finance. He helps newbies start their own online businesses. Sign up for his 7-Day Free training course and learn how to start making a sustainable income online and quit your 9-to-5 job.

19 Responses

Hi Alex, I also invested in Genesis Mining. I agree with you that it is an amazing problem. They have a solid mining system in place. I have just increased my mining power a year ago and the return has been very promising. For those who are new to Bitcoin mining, Genesis Mining is definitely the one that you should go for. It is legitimate and transparent. There are way too many scams out there and I have been scammed a few times before GM. Yes, GM is genuine!

Dear Alex, thanks for this valuable information here about Genesis Mining. I am also a Bitcoin miner and I have to agree with you that it is not easy for newbies to be part of the game. Mining has been difficult and it is not worth at all to start this from scratch at all. It requires more power and more advanced technology.

If you want to invest in bitcoin mining without the hassle of managing your own hardware, It is no doubt best to invest your money and put your effort in cloud mining. Genesis is by far the best company and the return is quite promising.

I work in IT and nothing impresses me more than to see a server farm developed from the ground up. It explains a lot about a company works and the care the put into their services when you see the end result.

If I were in a financial place to invest, I would absolutely invest in Genesis Mining. They appear to be wise by observing the markets as they watched the failures come and go to establish their own plight.

Your information is invaluable. You set it up in a very usable and easy to understand method. I will be watching the development so I can become a part when the timing is right for me. Of course the consideration of buy-in will be a factor when I can make that step.

Thank you for the information and I will be happy to see more from you.

Hey Alex, thanks for the education, this is a very informative site. I’ve just been researching at this point and am learning a lot so far…going to take it slow and probably invest my time and money in cloud mining. Genesis Mining certainly does seem like the best choice from all I’ve gathered so far and I like that they are legitimate and transparent. Really appreciate the time spent and content on this site..I’ve added it to my favorites and going to make some small investments with Genesis Mining.

No worries at all. I tried GM and I am still investing with them. The income is quite consistent and promising. Most importantly, they are legitimate. Unlike High Yield Investment Programs that steal people’s hard earned money.

As a beginner, you can start off with “Custom Plan” where you can invest based on your budget. If you have budget for this, you can opt for “Platinum” package that cost $350 for Lifetime Bitcoin Mining package. Invest in sha256 that mines BTC that basically makes $50 per month (varies with BTC value) at the time of writing. This contract basically has no fixed and predetermined end date and daily payout frequency.

At the time of writing, I think it is worth doing bit of both. BTC just topped $1,000 yesterday and we don’t know what will happen next. I bought a few BTC a few years back and it was a good investment. So, do some research from time to time and monitor the prices and difficulty of mining. Hope this helps.

Reminder: Remember to use “sqvhtT” to get 3% discount on your purchase.

Note: Bitcoin and altcoin mining depends highly on the prices and difficulties of the coins you mine. As for all kinds of investments, there are no easy answers about potential ROIs. Therefore, it is recommended to do their own profitability calculation, just like any other investments on earth.

Hey Alex, I have been curious about Bitcoin mining for a while, but with so many online scams you just never know which one to pick or what to believe. This review is showing me all great information about how legitimate this company is and the comments seem to endorse it, will give this a try, thank you for this information.

Hi there,
This is a post that caught my attention immediately for one specific reason and that was the amount of interest that surrounds this type of crypto-currency that is becomming ever so popular today.
I have read a lot about this lately and I can see that you are very passionate about this business as well.
I read recently that Bitcoin is now worth more than Gold at the moment.
Well done again and best wishes
Cheers..Phil Browne

Great stuff here! I followed your post and made a few thousands in Genesis for Bitcoin mining. It is totally worth it, especially since Bitcoin price is all-time high right now. It is not bad to receive a few fraction of Bitcoin every day! I am thrilled to see how cloud mining works!